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  • Risk Assets Rally!

    In This Issue..

    * Currencies have strong rally VS the dollar...
    * Gold returns to $1,210...
    * Rosengren talks deflation...
    * Aussie Confidence soars!

    Good day... And a Wonderful Wednesday to you! WOW! The National League won for the first time since the Wizard of OZ (Ozzie Smith) played in 1996! Being a National League guy, I grew up watching the National League win these games every year, but that changed and it's been an American League affair for some time. But not this year! YAHOO!

    Another Big WOW! Goes to the currencies and metals yesterday! What a rally! The currencies, led by the Big Dog euro, left the porch and chased the dollar dog down the street all day! The euro returned to the 1.27 handle, moving through the 1.26 handle like a hot knife goes through butter! By the time I made it into the office from the doctor's office yesterday morning, the damage to the dollar was a done deal... Last night, before I went to bed, I checked the currencies just to see if there had been profit taking in Asia... And what to my surprise did I see? But no profit taking, what glee!

    ...